Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: For the third time in a little more than two months, shares of SouFun Holdings
So what: Specifically, sales in and around Beijing fell 19% through the first nine months of the year. Average prices fell 10% over the same period, Bloomberg reported. Neither number is encouraging.
Now what: But it also wasn't all bad news. SouFun said in an emailed statement to Bloomberg that average selling prices for Shanghai homes rose 14% as overall sales volume fell 5%. That still wasn't enough to stop the bleeding. So be it. While the businesses are undoubtedly similar, we don't yet have enough information to know whether SouFun is to Chinese real estate what Zillow
Interested in more info on SouFun Holdings? Add it to your watchlist.
Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Google+ or Twitter, where he goes by @milehighfool. You can also get his insights delivered directly to your RSS reader.
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